Oman’s CPI inflation accelerates to 1.5% y/y in April 2014

By bne IntelliNews June 3, 2014

Oman’s CPI inflation speeded up to 1.53% y/y in April from 0.70% y/y the month before, on higher food and housing price growth, the statistics office said. Higher telecoms and education prices also lifted the CPI inflation in April despite government subsidies and price regulations. In monthly terms, the CPI rose 0.58% in April, quickening from a 0.1% rise the month before.

Food and beverages prices (23.9% of the index) fell 0.7% m/m on favourable seasonal factors but the annual growth ticked up to 2.54% y/y in April from 2.40% a month earlier mainly due to a low prior-year base.

Transport prices (19.2% of CPI) remained in the red, shrinking 0.6% y/y in April, despite narrowing from a 1.3% y/y drop the month before. Such prices remain anchored due to partial subsidies, which, however, weigh on the budget balance.

Housing charges (26.5% of the basket) rose 0.25% m/m, sending the annual increase to 1.65% y/y from 1.4% y/y in March, on rising rent amid strong local demand for housing. 

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